Wall Street brokerages predict that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will announce earnings of $0.44 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Piedmont Office Realty Trust’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.45. Piedmont Office Realty Trust posted earnings per share of $0.42 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The business is scheduled to announce its next earnings report on Wednesday, February 6th.
On average, analysts expect that Piedmont Office Realty Trust will report full-year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.73. For the next fiscal year, analysts forecast that the business will post earnings of $1.76 per share, with EPS estimates ranging from $1.72 to $1.81. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.04. The firm had revenue of $129.71 million during the quarter, compared to the consensus estimate of $127.24 million. Piedmont Office Realty Trust had a net margin of 10.13% and a return on equity of 2.95%. During the same period last year, the firm earned $0.42 EPS.
In other Piedmont Office Realty Trust news, Director Dale H. Taysom bought 2,000 shares of the stock in a transaction on Friday, November 2nd. The shares were bought at an average price of $17.85 per share, with a total value of $35,700.00. Following the purchase, the director now directly owns 16,808 shares in the company, valued at approximately $300,022.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.91% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC lifted its position in Piedmont Office Realty Trust by 2.3% in the third quarter. Teachers Advisors LLC now owns 261,940 shares of the real estate investment trust’s stock valued at $4,959,000 after buying an additional 5,840 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Piedmont Office Realty Trust during the third quarter worth about $225,000. Macquarie Group Ltd. increased its stake in Piedmont Office Realty Trust by 34.7% during the third quarter. Macquarie Group Ltd. now owns 133,500 shares of the real estate investment trust’s stock worth $2,527,000 after purchasing an additional 34,400 shares during the period. MetLife Investment Advisors LLC increased its stake in shares of Piedmont Office Realty Trust by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 91,277 shares of the real estate investment trust’s stock worth $1,728,000 after buying an additional 32,447 shares during the period. Finally, Man Group plc increased its stake in shares of Piedmont Office Realty Trust by 5.5% during the third quarter. Man Group plc now owns 248,500 shares of the real estate investment trust’s stock worth $4,704,000 after buying an additional 12,900 shares during the period. 85.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Piedmont Office Realty Trust stock traded down $0.35 on Thursday, hitting $18.49. 17,909 shares of the company traded hands, compared to its average volume of 858,949. The stock has a market cap of $2.38 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 1.36 and a beta of 0.64. Piedmont Office Realty Trust has a 12-month low of $16.69 and a 12-month high of $20.57. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.75 and a current ratio of 1.75.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, November 30th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.54%. The ex-dividend date is Thursday, November 29th. Piedmont Office Realty Trust’s payout ratio is presently 48.00%.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.
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